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Tuesday, February 26

26th Feb - EU Open

Boy, it will be a busy week. My gut feeling is that this week will be remembered as the straw that did the camel in. The camel has no double hump, it is a double-w, and the end of popular support for the euro is has landed. Noticeable, very 1998-like reaction in JPY and especially in EURJPY.

Previously on MoreLiver’s:
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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT

3 Numbers to Watch: CBI survey, Case-Shiller HPI & new home salesTradingFloor
The UK CBI Distributive Trades Survey is expected to show some relief for February consumer spending in Britain, followed by two housing reports for the US that are projected to show more improvement in prices and sales.

Market Preview: Political deadlock in Italy; Ben's testimony eyedTradingFloor
The political gridlock after Italy's elections is expected to weigh sharply on European markets at Tuesday's open. Meanwhile, the Fed Chairman's testimony to the Senate Banking Committee later today is expected to hold market interest.

Danske DailyDanske Bank (pdf)
Hung parliament  in Italy and already discussions that re-election is needed and that election laws need to be changed. Fears that the debt crisis might be reignited could potentially resurface. Strong negative opening for European bourses expected this morning.

AamukatsausNordea (pdf)
Voittajat vähissä Italian vaaleissa * Teollisuuden luottamuksesta lisää huonoja uutisia USA:sta? * Italian vaalitulos heikensi euroa ja painoi riskinottotunnelmaa korkomarkkinoilla

AamukatsausTapiola (pdf)

Italian vaalien lopputulos pääsi yllättämään markkinat, USA:n markkinoilla voimakasta laskua. Osakefutuurit alas, indikoiden jyrkkää laskuavausta pörssiin. Tapiola Pankin uudet osakevalinnat mallisalkkuun.


ECB Should Pledge to Not Do Anything StupidTim Duy’s Fed Watch

Main suspect in Spain graft scandal has passport seizedReuters

Fed’s Lockhart: Bond Buying Should Continue at Least Through SummerWSJ

China’s credit to GDP ratio over the years — inc...alphaville / FT